In a
major development of the pulp mill campaign The Wilderness Society has released
a list of the world’s leading banks which have committed to not finance Gunns’
environmentally destructive pulp mill. The Wilderness Society, in conjunction
with GetUp and BankTrack, has ran a full page advertisement in the European
edition of the Financial Times pointing out why other banks should follow their
lead and commit to not financing the pulp mill.

“Leading
international banks have committed to not finance Gunns’ socially and
environmentally destructive pulp mill. This is a major step forward towards
protecting Tasmania’s irreplaceable native forests and the livelihoods of
Tasmanians,” said Paul Oosting, pulp mill campaigner for The Wilderness
Society.

“Banks
which were previously rumoured to be involved in financing the pulp mill, such
as Deutsche Bank, the Royal Bank of Scotland, and the Bank of China, are among
the banks which have committed to not finance the project,” said Mr Oosting.

“It is
encouraging to see the finance sector recognising the risks associated with a
project like this, which would lock in the destruction of Tasmania’s forests
which contain massive amounts of carbon,” said Mr. Oosting.

“No bank
that adheres to environmental and social guidelines would finance a project
that would be a major driver of climate change, wildlife loss and toxic
pollution,” said Mr Oosting.

On April
29 a full-page advertisement has ran in the European Financial Times. The
following banks have not yet ruled out financing the pulp mill and will be
named in the advertisement:

* Nordea*
Barclays Bank*
Macquarie* JP
Morgan Chase

“Gunns’
pulp mill does not have Federal Government approval to operate, is strongly
opposed by the public and still faces possible legal challenges. We want all
major banks to rule out financing the pulp mill,” said Mr Oosting.

“The
Australian public is opposed to Gunns’ mill and running this advert in the
Financial Times will ensure that potential investors know why they should not
get involved with the most strongly opposed project in the country,” concluded
Mr Oosting.